From the course: Running a Web Design Business: Defining Your Business Structure
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Understanding state tax obligations
From the course: Running a Web Design Business: Defining Your Business Structure
Understanding state tax obligations
Depending on the state where your business is located, you might also need to pay additional taxes, like state income tax, tangible personal property tax, and sales tax. As I said earlier, every state has its own rules and regulations. So please, visit your state's official website, or the US Small Business Administration website, for a full list of all the required taxes in your state. Here's the site. It has information on state and local tax obligations, organized per state. For Amy's web business, we'd navigate down to Florida, then explore all the details. This will help Amy confirm that the state of Florida will not charge income tax or sales tax on her business. And she's below the threshold for the personal property tax. If her business was in California, then she would navigate over here to the California area. Click on California Tax Service Center link ,which drills down to more information about income tax, payroll tax, and sales and use tax.
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Getting started with business names and fictitious business names4m 46s
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Obtaining local licenses and permits1m 7s
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Applying for a city business tax receipt5m 47s
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Applying for a county business tax receipt2m 37s
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Opening a business bank account1m 58s
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Understanding state tax obligations1m 16s
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Understanding federal tax obligations1m 59s
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